Hello, I was wondering if anyone could share tips on buying property/ investing in Puerto Rico after the flood, what to look out for/watch out for, where to buy, share networking info or anything relevant to investing? It would be greatly appreciated. I am looking to buy small home or duplex for renting out. Thanks in advance
I also am interested in this topic so hopefully someone with some knowledge jumps in. Thanks for bringing it up @Meleneal Cameron
Have you been to Puerto Rico in the last 5-10 years? I’ve been down for business quite a few times & the economic situation seems worse every time.
Brain drain is a huge issue there as many young folks take off for the continental US. Philadelphia & other east coast cities have huge Puerto Rican populations as a result.
The pharma companies & other big employers have mostly pulled out after tax advantages expired.
The local govt has a history of corruption & overspending.
Last time I was down the Hilton Coronado had shut down its casino.
Very few upsides in my opinion.
Thanks for the info Dennis I appreciate it. Last time I was there was back in 2016. I have a friend who is a Real Estate Broker and Investor down there - of course, he's saying now is the perfect time to purchase. I'm interested in the Luquillo area. Just recently read an article where Puerto was listed #3 out of 30 Top home buying destinations in America. Just trying to gather unbiased feedback.
@Dennis W. I have been increasingly interested over the last few years because of the highly favorable tax situation. I believe that it may be the perfect place to move in retirement provided that tax rates stay the same however the economy is troubling which tends to discourage me from jumping.
Anyone else have thoughts on this topic?
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